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From Kirsten Bischoff, Opalesque New York:
The asset raising spotlight has finally turned its radiance from large, established hedge funds and has allowed emerging managers to share in a bit of the allocation glory this year. With performance dragging in the largest funds (i.e., Thursday’s reports that John Paulson’s fund is down -21+% YTD), emerging managers are making the most of the "hockey stick" growth story, and investors focused on seeding new managers are finding the market rife with opportunities.
"We are very opportunistic in the way we are going to seed. We receive about 250 to 400 projects every year," says Antoine Rolland, Chief Investment Officer at France-based firm NewAlpha .
With four generations of fund of hedge funds invested into managers, the firm has put $650m to work into the industry, incubating 16 managers. Through the remainder of 2011 Rolland says NewAlpha will look to seed an additional four managers, bringing the firm’s total to 20 seeded funds.
"This time, we have seeded managers on the fourth generation with lots of convexity around credit," he says during an interview with Opalesque TV . Typically, NewAlpha has found its investor base to be built on institutional investors, but most recently the firm has seen more family offices looking for exposure to emerging managers throug...................... To view our full article Click here
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